HOW HOLDS (PRE AUTHORIZATIONS) ON CREDIT CARDS WORKS​

 

A hold or pre authorization on a credit card (checkin) enable funds to be held to guarantee that, when the time of check out comes, there are funds available to cover consumptions, extra expenses or damages. 

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If there are no pending charges, after a guest departure, the hold is cancelled with a checkout in zero and the funds on hold are released. 

 

If there are pending charges the pre authorization is converted into a charge (checkout) and the remaining funds on hold are released. 

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The pre authorizations are valid for 14 days, so depending on the number of nights you are staying at the condo, we may have to do a re-authorization on your card to keep the hold in effect during your stay and up to a period of 48 hours after your date and time of check-out. If a re-authorization is made, the amount withheld in your card does not increase, it will remain the same, only its validity is extended.

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What you should know:

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• A hold is not an actual charge, but rather a temporary blocking of a specific amount
• The block may appear on your bank account statement as a pending transaction or in transit.
• From the moment we charge certain amount over the retention or we released the retention in zero, the retention is unlocked and the rest of the amount is usually available again on your credit card within a period of about 5 business days. This period could be longer, since it depends on each credit card issuing entity.

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